FEDERAL BANK DEVISES PLAN TO SHORE UP BOTTOM LINE
Article Abstract:
The Federal Bank of Alwaye, which witnessed an 88 percent decline in profits during the first half of 1998-99, has planned a strategy to control expenditure, increase income and recover non- performing assets in order to improve its profits. The banks profits have declined to Rs3.26 crore in the first half of 1998- 99 against Rs28.30 crore in the first half of 1997-98. The bank has decided to retire its high cost funds by March 1999 and will concentrate on increasing income from treasury operations, which fell to Rs2.2 crore from Rs33 crore. (khr)
Comment:
The Federal Bank of Alwaye, which witnessed an 88 percent decline in profits during the first half of 1998-99, has planned a strategy to control expenditure, increase income and recover non- performing assets in order to improve its profits.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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THE JAMMU AND KASHMIR BANK LTD
Article Abstract:
The Jammu and Kashmir Bank Ltd has published its unaudited financial results for the quarter ended December 31, 1998. Its deposits increased by 26 percent, advances by 19 percent, net profit by 81 percent and net worth by 111 percent in the 9 months ended December 31, 1998, over those in the same period of 1997. (um) (kvr)
Comment:
The Jammu and Kashmir Bank Ltd has published its unaudited financial results for the quarter ended December 31, 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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